Quantum computers of NSA, advantageous to bitcoin or not?

kryptqnick

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Quote from: groll on July 11, 2016, 10:26:53 PM

http://bitcoinist.net/quantum-computing-draws-closer-danger-bitcoin/

This article that was posted on the net was saying that quantum computing could endanger bitcoins. Quantum computer was proposed by NSA it was designed to crack encryption. Quantum computers could compute millions of calculations at a single time compare to normal computers that can solve a single computation at a time. Quantum computing has become a hot topic and was said to be a threat to bitcoins.

Will quantum computing brings an end to bitcoin or it will help bitcoin to level up? What is the right idea?

I also think they won't manage to make a quantum computer, so everything is going to be okay)
But if they somehow do one then we'll have 21 mil btc a lot faster than in 256 years. And yet it shouldn't be this way. I think btc won't overcome such a stress

codehtcmail

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I don't think quantum computing even exists at this point or will ever exist in the next coming years. I think we're talking 20-25 years in the future at least, from what I know the scientists are having tremendous challenges to resolve before they have such device. In all cases it will first be in the hands of governments which I don't think will be spending their time tracking a bitcoin wallet with a few thousand dollars worth of BTC, they have bigger problems to think of, more than our 10 billion dollars in bitcoin.

avikz

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I don't think quantum computing will be any threat to bitcoin's existence because, quantum computer is basically a theory till date and far from becoming a reality. Also like we evolve with anything that effects us, bitcoin will also evolve to make up with the changes.

Also even if quantum computing is introduced in some time, it will not be an easily accessible technology to the masses. The adoption and use will take a long time. So I see no threat to bitcoin as of now.

CoinBreader

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Quote from: Xester on July 12, 2016, 12:39:13 AM

Quote from: groll on July 11, 2016, 10:26:53 PM

http://bitcoinist.net/quantum-computing-draws-closer-danger-bitcoin/

This article that was posted on the net was saying that quantum computing could endanger bitcoins. Quantum computer was proposed by NSA it was designed to crack encryption. Quantum computers could compute millions of calculations at a single time compare to normal computers that can solve a single computation at a time. Quantum computing has become a hot topic and was said to be a threat to bitcoins.

Will quantum computing brings an end to bitcoin or it will help bitcoin to level up? What is the right idea?

Possibly it will be the end of the cryptocurrency economy. This may be the steps made by banks to combat the rise of decentralization. Though I am only speculating but this is possible given the threats of bitcoin to the banking society. I dont have much to show, I have no evidence but purely assumption. But what if it is true then soon decentralization is out of the picture and banking system will be at the top of the financial foodchain once again.

This coin has to flips
one side is NSA dont want to kill btc , because the can arrest the bad guys & their money stash (if in btc), but before btc the where losing the money or the most of them..

but then again if NSA wants btc dead , it would be controlled and not dead, but then again i still believe that satoshi nakamoto is/was NSA from the very start ,

7788bitcoin

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I am no expert in computer science but I thought hacking bitcoin address may only be feasible if computers are "built from something other than matter and occupy something other than space"?

target

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Quote from: helloeverybody on July 12, 2016, 12:44:12 AM

Quote from: umair01 on July 11, 2016, 10:46:08 PM

Quantum computing will kill bitcoin if it goes large scale and becomes reality.

I dont think its just bitcoin that quantum computers would affect, With that kind of computing power a quantum computer could crack any password to anything, this would mean your bank account wouldnt be safe and neither would any online accounts. I dont think we are actually anywhere near getting real quantum computers anyway so its not really a risk we need to worry about for the foreseeable future.

i suppose it would take time still for the quantum computers to crack, lets assume it will take a year if indeed thats how powerful it can be.
By a year bitcoin dev much have upgraded its encryption already to which quantum can't crack anymore.

is quantum computer designed for cracking?

helloeverybody

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Quote from: umair01 on July 11, 2016, 10:46:08 PM

Quantum computing will kill bitcoin if it goes large scale and becomes reality.

I dont think its just bitcoin that quantum computers would affect, With that kind of computing power a quantum computer could crack any password to anything, this would mean your bank account wouldnt be safe and neither would any online accounts. I dont think we are actually anywhere near getting real quantum computers anyway so its not really a risk we need to worry about for the foreseeable future.

Xester

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Quote from: groll on July 11, 2016, 10:26:53 PM

http://bitcoinist.net/quantum-computing-draws-closer-danger-bitcoin/

This article that was posted on the net was saying that quantum computing could endanger bitcoins. Quantum computer was proposed by NSA it was designed to crack encryption. Quantum computers could compute millions of calculations at a single time compare to normal computers that can solve a single computation at a time. Quantum computing has become a hot topic and was said to be a threat to bitcoins.

Will quantum computing brings an end to bitcoin or it will help bitcoin to level up? What is the right idea?

Possibly it will be the end of the cryptocurrency economy. This may be the steps made by banks to combat the rise of decentralization. Though I am only speculating but this is possible given the threats of bitcoin to the banking society. I dont have much to show, I have no evidence but purely assumption. But what if it is true then soon decentralization is out of the picture and banking system will be at the top of the financial foodchain once again.

groll

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Quote from: Breakfastchief on July 11, 2016, 10:38:36 PM

In my opinion, I think Bitcoin will be pretty safe from quantum computing. As stated in the article, this type of computing will be gradually added as time goes by so Bitcoin will adapt as time goes by as well.

But it's probaby a good guess that the NSA will have the best of the best computers to analyze the blockchain at super fast speeds to be able to identify and track transactions secretly in an effort to keep their eye on us and others.

That is what I am hoping to happen. I just hope that NSA had a good intention when proposing to create a quantum computers. If it will assist bitcoin and blockchain, crytpcurrency economy is like a safe haven for consumers. But if it will be used against bitcoin then its good bye to cryptocurrency and I will lost all my online jobs and I will get headache again to find alternative source of income.

umair01

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Quantum computing will kill bitcoin if it goes large scale and becomes reality.

Breakfastchief

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In my opinion, I think Bitcoin will be pretty safe from quantum computing. As stated in the article, this type of computing will be gradually added as time goes by so Bitcoin will adapt as time goes by as well.

But it's probaby a good guess that the NSA will have the best of the best computers to analyze the blockchain at super fast speeds to be able to identify and track transactions secretly in an effort to keep their eye on us and others.

groll

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http://bitcoinist.net/quantum-computing-draws-closer-danger-bitcoin/

This article that was posted on the net was saying that quantum computing could endanger bitcoins. Quantum computer was proposed by NSA it was designed to crack encryption. Quantum computers could compute millions of calculations at a single time compare to normal computers that can solve a single computation at a time. Quantum computing has become a hot topic and was said to be a threat to bitcoins.

Will quantum computing brings an end to bitcoin or it will help bitcoin to level up? What is the right idea?

Topic: Quantum computers of NSA, advantageous to bitcoin or not? (Read 563 times)